Myanmar’s coup leader-turned-premier Min Aung Hlaing is grappling with an economy weakened by clashes with armed ethnic groups, foreign investors cutting ties and the threat of more U.S. sanctions as the junta enters its second year of government.
The aftermath of the Feb. 1 coup last year is putting more than a decade of growth in the country at risk, with the World Bank estimating the economy contracted by nearly a fifth in the last fiscal year. Myanmar’s economy might expand by just 1% in the current year to end-September, the bank has forecast.
While deposed civilian leader Aung San Suu Kyi is in prison with more court verdicts to come, the generals are still doubling down with more air raids on rebel strongholds and suppressing protests that’s likely to weigh further on the economy.